Data Lakes Market Outlook
Data lakes are centralized repositories designed to process, secure, and store large amounts of structured, unstructured, binary, and semi-structured data. They can store data in its native form using mobile apps, social media, Internet of Things (IoT) devices, and business applications. They also provide an advanced framework for machine learning (ML), real-time analytics, such as dashboards, visualizations, structured query language (SQL) queries, big data processing, and full-text search.
The global data lakes market reached a value of US$ 7.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2027, exhibiting at a CAGR of 26.4% during 2022-2027.
As a result, data lakes are witnessing significant demand across the banking, financial services and insurance (BFSI), retail, IT and telecom, and e-commerce industries.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Data Lakes Market Trends:
One of the key factors driving the market growth includes an increase in big data generated from various sources. Data lakes are employed by industries to provide a scalable and cost-effective solution for storing and processing large amounts of data. This is further supported by the rising challenge of overseeing large amounts of digital data due to the rapid integration of technologies, which, in turn, is facilitating the need for data lakes for performing real-time analytics and mitigating and managing data issues.
Apart from this, the surging demand for advanced and efficient data analytics solutions and growing product applications in the healthcare sector are accelerating the market growth. Other factors, such as burgeoning investments in research and development (R&D) activities by key players, the rapid adoption of IoT-enabled devices, and escalating awareness regarding the advantages of cloud-based data lake solutions, including cost-effectiveness and easy scalability and accessibility, are positively influencing the market growth.
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In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Amazon Web Services Inc. (Amazon.com Inc)
- Atos SE
- Capgemini
- Cloudera Inc.
- Dell Technologies Inc.
- Google LLC (Alphabet Inc.)
- Hewlett Packard Enterprise Development LP
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- Snowflake Inc.
- Tata Consultancy Services Limited
- Teradata Corporation.
Key Market Segmentation:
The report has categorized the market based on component, deployment mode, organization size, business function and end use industry.
Breakup by Component:
- Solutions
- Data Discovery
- Data Integration and Management
- Data Lake Analytics
- Data Visualization
- Services
- Managed Services
- Professional Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Business Function:
- Marketing
- Sales
- Operations
- Finance
- Human Resources
Breakup by End Use Industry:
- BFSI
- IT and Telecom
- Retail and E-Commerce
- Healthcare and Life Sciences
- Manufacturing
- Energy and Utilities
- Media and Entertainment
- Government
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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